<Also>Flexweight Corp. Obtains Revenue
Reports for August On Two of the
International Resort Hotel and Casino Gaming Operations
Which are a Part of the Proposed Business Combination
WENDOVER, Nev.--(BUSINESS WIRE)--Sept. 4, 1998--Flexweight Corp. (OTC BB:FXWA -
news; ''FXWA'') Friday announced it is making progress towards finalizing a definitive agreement
with NuOasis International Inc. (''International'') in effecting a business combination with
International's majority owned resort hotel and casino gaming properties in Tunisia.
FXWA is on schedule to sign the definitive agreement by Sept. 15, 1998.
In conjunction with FXWA's due diligence, FXWA's management was informed that two of
International's resort hotel and casino operations, that are part of the proposed business
combination, generated total revenues of $1,342,657 for the month of August.
Casino Cleopatra Hammamet which is operated by Cleopatra Hammamet Ltd. posted total gross
revenues from gaming of 420,542 Tunisian Dinars (TD) or US$372,920 for the month of August.
Gross income from the take games in the same period was 348,053 TD or US$308,640. The net
win from slot machines was 72,488 TD or US$64,280.
Le Palace Hotel and Resort at CapGammarth operated by Cleopatra's World Inc. reported 8,209
guests and 59.36 percent occupancy in August with total gross revenues of 1,093,572 TD or
US$969,737. The revenue breakdown for last month was 613,885 TD or US$544,369 for rooms,
423,593 or US$375,626 for food and beverage and 56,092 or US$49,740 for miscellaneous
charges.
Note: The exchange rate used was 1.1277 Tunisian Dinars to the U.S. Dollar which was the
interbank market for million dollar blocks on Sept. 2, 1998.
Note to Editors: Certain statements made herein that are not historical are forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward-looking statements involve risks and uncertainties. Investors
who seek more information about the company's business and relevant risk factors may wish to
review the company's periodic reports filed with the Securities and Exchange Commission including,
but not limited to, its most recent annual report on Form 10-KSB and quarterly report on Form
10-QSB. |
